College Fund Challenge

This is a discussion on College Fund Challenge within the Trading Journals forums, part of the Reception category; Originally Posted by marbig But I do know that ANY system that uses a Stop Loss equal to 60% of ...

View Poll Results: How close to my goal of $2,000,000 do you think I will get?
You think I will blow the account and my $100 will be lost. 79 58.52%
You think I will somewhat earn a profit $200-$1,500. 17 12.59%
You think I will get a pretty good return but not close to $2,000,000. 27 20.00%
You think I will get way more then $2,000,000. 12 8.89%
Voters: 135. You may not vote on this poll

Reply
 
LinkBack Thread Tools Search this Thread
Old Aug 24, 2011, 8:32am   #176
Joined Jun 2011
Re: College Fund Challenge

Quote:
Originally Posted by marbig View Post
But I do know that ANY system that uses a Stop Loss equal to 60% of the account balance is guaranteed to crash and burn. Because the Stop Loss is so large, it will not be hit very often. But when it does, it will burn the account.
Actually it will do more than burning the account. The thread started from making 2 million from $100. Then it went to making 2 million from $1000. The 'from' amount will continue to increase as the the OP add more money to the account to prevent a margin call and/or involuntary close out. Whenever he adds money, he calls it money from investors. When warned by the mods about running this as a commercial activity, he then says the money is not from investors but from friends and family.

Basically, when the burn down comes, it will take down the account in additional to the "investor's" money he adds immediately prior to the burn down as he attempts to salvage the trade.

A further characteristic of his trade is that there will come a time relatively soon that he won't be able to to put up more "investor's" money when the amount involved is more than he can afford. He had to add $900 in order to trade his original $100. As the trade size increase, the additional money required to sustain the trade increases proportionately on the same 900% ratio. By the time he's trading $1000, he will need $9000 additional amount of money. Needless to say it won't take long for him to get to the point where he can not afford it. Alternatively he can keep making the 25 pip on the $100 trade. In which case he will never be able to make 2 million or even a fraction of it. More than likely all his profits will be lost by a large hit that will inevitably happen.

The key point to watch for is the amount of "investor's" money in the account. You can use that to gauge how close he is at the end of the road.

Last edited by BeginnerJoe; Aug 24, 2011 at 10:21am.
BeginnerJoe is offline   Reply With Quote
Old Aug 24, 2011, 8:36am   #177
Joined Jan 2011
Re: College Fund Challenge

Quote:
Originally Posted by marbig View Post
I would NEVER buy this system.

To paraphrase you, I can tell you that the chances of LOSING THE TOTAL cost of the investment, AFTER a loss, is very, very HIGH, in my opinion
I respect your opinion.

Best wishes

RobM. is offline   Reply With Quote
Old Aug 24, 2011, 12:19pm   #178
Joined Sep 2010
Re: College Fund Challenge

tkbieber started this thread
Quote:
Originally Posted by BeginnerJoe View Post
Actually it will do more than burning the account. The thread started from making 2 million from $100. Then it went to making 2 million from $1000. The 'from' amount will continue to increase as the the OP add more money to the account to prevent a margin call and/or involuntary close out. Whenever he adds money, he calls it money from investors. When warned by the mods about running this as a commercial activity, he then says the money is not from investors but from friends and family.

Basically, when the burn down comes, it will take down the account in additional to the "investor's" money he adds immediately prior to the burn down as he attempts to salvage the trade.

A further characteristic of his trade is that there will come a time relatively soon that he won't be able to to put up more "investor's" money when the amount involved is more than he can afford. He had to add $900 in order to trade his original $100. As the trade size increase, the additional money required to sustain the trade increases proportionately on the same 900% ratio. By the time he's trading $1000, he will need $9000 additional amount of money. Needless to say it won't take long for him to get to the point where he can not afford it. Alternatively he can keep making the 25 pip on the $100 trade. In which case he will never be able to make 2 million or even a fraction of it. More than likely all his profits will be lost by a large hit that will inevitably happen.

The key point to watch for is the amount of "investor's" money in the account. You can use that to gauge how close he is at the end of the road.
I have yet to add any additional funds to Account 2.

What say ye, oh man of many words? And if, you are looking at Account 1, tell me why, oh great one, did I deposit $200 and again $100 on the 23rd AFTER a trade closed in profit and then again today another $100 this morning, oh with a trade open but this time, the DD was ONLY -23 pips before closing out in PROFIT??,, Oh, and on a now, $5,600 account. Let me think about this... humm, maybe it's because there were three more guys that put in $200 and $100 and $100.

I don't know why I waste my time with this rookie.

Last edited by tkbieber; Aug 24, 2011 at 12:30pm.
tkbieber is offline   Reply With Quote
Old Aug 24, 2011, 12:29pm   #179
Joined Sep 2010
Re: College Fund Challenge

tkbieber started this thread
Quote:
Originally Posted by marbig View Post
I would NEVER buy this system.

To paraphrase you, I can tell you that the chances of LOSING THE TOTAL cost of the investment, AFTER a loss, is very, very HIGH, in my opinion
I'd also remind the readers that this system can be traded at any risk level. My plan is that after 2 years, if account hasn't "tanked" from 2 losses in a row that I will be reducing the risk to 5-10% per trade. How many times in a row would it then take to blow the balance, keeping in mind the system is 13 months of ZERO loss? Yes, all I have is history to go on, but so does every other trader trading a good system. I never predict the future but am proud of the past.
tkbieber is offline   Reply With Quote
Old Aug 24, 2011, 12:31pm   #180
 
D.Gilberto's Avatar
Joined Apr 2011
Re: College Fund Challenge

Quote:
Originally Posted by BeginnerJoe View Post
Actually it will do more than burning the account. The thread started from making 2 million from $100. Then it went to making 2 million from $1000. The 'from' amount will continue to increase as the the OP add more money to the account to prevent a margin call and/or involuntary close out. Whenever he adds money, he calls it money from investors. When warned by the mods about running this as a commercial activity, he then says the money is not from investors but from friends and family.

Basically, when the burn down comes, it will take down the account in additional to the "investor's" money he adds immediately prior to the burn down as he attempts to salvage the trade.

A further characteristic of his trade is that there will come a time relatively soon that he won't be able to to put up more "investor's" money when the amount involved is more than he can afford. He had to add $900 in order to trade his original $100. As the trade size increase, the additional money required to sustain the trade increases proportionately on the same 900% ratio. By the time he's trading $1000, he will need $9000 additional amount of money. Needless to say it won't take long for him to get to the point where he can not afford it. Alternatively he can keep making the 25 pip on the $100 trade. In which case he will never be able to make 2 million or even a fraction of it. More than likely all his profits will be lost by a large hit that will inevitably happen.

The key point to watch for is the amount of "investor's" money in the account. You can use that to gauge how close he is at the end of the road.

By the way we all need to listen up to BeginnerJoe... He is here to protect and deny access to scam artists.... (not sure what he contributes though... but that doesnt matter for now)

He is a full time detective of T2W... so give respect where its due.

Troll Denied
D.Gilberto is offline   Reply With Quote
Old Aug 24, 2011, 12:37pm   #181
Joined Sep 2010
Re: College Fund Challenge

tkbieber started this thread Another quick trade for +1 pip today.
tkbieber is offline   Reply With Quote
Old Aug 24, 2011, 12:40pm   #182
Joined Sep 2010
Re: College Fund Challenge

tkbieber started this thread
Quote:
Originally Posted by domgilberto1989 View Post
By the way we all need to listen up to BeginnerJoe... He is here to protect and deny access to scam artists.... (not sure what he contributes though... but that doesnt matter for now)

He is a full time detective of T2W... so give respect where its due.

Troll Denied
Oh yes, I forgot. Hats off to rookie detective. We bow down to you, his lordship.
tkbieber is offline   Reply With Quote
Thanks! The following members like this post: D.Gilberto
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Colleged Fund Challenge tkbieber Trading Journals 20 Jun 6, 2011 8:01pm
Brokers for college students... johanesw Brokerages 14 Sep 30, 2009 5:00pm
college graduate.... k1ng87 General Trading Chat 4 Jul 27, 2009 10:55am
College May Become Unaffordable for Most godoftrading General Trading Chat 0 Dec 4, 2008 3:09pm
Looking for Online College reviews jasonweber General Trading Chat 0 Sep 11, 2008 8:18am

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)